Internal Revenue Service United States Department of the Treasury
Level Basic Advanced Military International

Adjustments to Income Workout

Student Loan Interest

Case Study 2: What is the Deduction?

Veronica and her husband are filing jointly. Their MAGI is above the fully deductible income limits. She completed her doctoral degree last year and paid $2,400 in student loan interest during the tax year. Due to their high MAGI, their deduction must be calculated; it will be less than the full amount of interest that she paid.

Review the Student Loan Interest Deduction At a Glance section in the Volunteer Resource Guide, Tab E, Adjustments.

Click here for an explanation.

Student Loan Interest Deduction at a Glance

Student Loan Interest Deduction at a Glance